Russia and China cut poverty levels in half on Friday .
“The measures taken by Russia and China to combat poverty, which have managed to halve their poverty levels , were praised by Lilia Ovcharova, Vice-Rector of the National Research University of Higher School of Economics.
She added, “On the sidelines of the Russia-China International Economic Forum in Kazan, it was agreed to overcome the fundamental causes of poverty in the two countries, by creating appropriate conditions for the development and expansion of the middle class .”
She continued: “The event brought together countries that were able to reduce their poverty levels by half in a short period of time, and I consider this to be an important matter, as Russia and China have succeeded in overcoming poverty. We also exchanged experiences of our successes, as Russia distinguished itself in this experience by introducing additional measures to social support, and spoke about supporting families with children .”
She pointed to “social support measures in Russia, where a trillion rubles were allocated to nearly 10 million families, saying: “We spend about a trillion rubles to about ten million families, and since we outperform China in investments, the latter, for its part, has expanded lending to investors through digital platforms .”
She added, “We found this experience useful and interesting, and since we agreed to overcome the basic causes of poverty in the two countries, we saw the need to create conducive conditions for the development and expansion of the middle class later .”
This week, Kazan, the capital of the Russian Republic of Tatarstan, hosted the second edition of the Russia-China International Economic Forum.
